The Ministry of Civil Aviation, Airports Authority of India (AAI) and the Federation of Indian Chambers of Commerce and Industry (FICCI) are organizing Wings India 2022 from March 24th to 27th at Begumpet Airport, Hyderabad. Recognized as Asia’s most extensive civil aviation event, this gathering aims to transform India into a leading global aviation hub by fostering connections among buyers, sellers, investors and stakeholders.
Objective of Wings India 2022
Wings India 2022 is designed to create a collaborative space reflecting India’s commitment towards becoming a prominent global aviation hub. It focuses on new business acquisitions, policy formation, investments, and enhancing regional connectivity. The interactive forums promise to stimulate the growth of the aviation sector, connecting key players in a shared platform for mutual benefit.
Highlights of the Indian Civil Aviation Market
The Indian Civil Aviation market has several notable aspects:
1. Growth: One of the fastest-growing markets worldwide, Indian Civil Aviation plays a key role in boosting the nation’s economy, aiming for a USD 5 trillion valuation by 2024.
2. Passenger Traffic: With 274.05 million passengers in FY20, India is the third-largest aviation market in terms of domestic air traffic.
3. Airports: Over the past 75 years, 75 airports have been established in the country. Furthermore, numerous unserved/underserved airports, heliports, and water aerodromes are set to gain scheduled connectivity under the UDAN initiative.
4. Fleet Strength: There are currently 713 aircraft serving round-the-clock, with an expected addition of over 900 aircraft in the next five years.
5. Eco-friendliness: Comprehensive strategies have been adopted to minimize aviation’s carbon footprint.
6. Passenger Satisfaction: Systematic approaches are incorporated to address grievances, improving operational efficiencies across the system.
Opportunities in the Indian Aviation Market
The Indian Aviation market offers several opportunities for growth and investment. These include 100% Foreign Direct Investment (FDI) under automatic routes for Ground Handling Services, Maintenance Repair and Overhaul Services (MRO), and greenfield/brownfield projects. The current civil Aviation MRO market of USD 900 million is projected to reach USD 4.33 billion by 2025, with the national fleet quadrupling to 2,500 airplanes by 2038. The government also plans to develop 100 airports by 2024 under the UDAN Scheme.
Understanding the UDAN Scheme
As the world’s first Regional Connectivity Scheme, UDAN aims to connect unserved and underserved airports to boost regional tourism and economic growth. The scheme has evolved over the years, focusing on priority areas and helicopter operations in its second phase. The third and fourth phases incorporate seaplane routes and enhance connectivity to remote and regional areas, respectively. UDAN has further proven its significance during the COVID-19 pandemic, supporting India’s fight against the virus while promoting national integration.
About the Airports Authority of India
Established on April 1st, 1995, the Airports Authority of India (AAI) was formed through a merger of the National Airports Authority and the International Airports Authority of India. The organization is entrusted with creating, upgrading, maintaining, and managing civil aviation infrastructure throughout the country.
About the Federation of Indian Chambers of Commerce and Industry
The Federation of Indian Chambers of Commerce and Industry (FICCI), established in 1927, is India’s largest and oldest apex business organization. With a nationwide membership comprising over 1,500 corporates and 500 chambers of commerce, FICCI represents more than 250,000 business units. The federation hosts numerous events, including exhibitions, conferences, seminars, and business meets to promote business growth.
